Cybersecurity Threats Surge Among Vietnamese Businesses
Experts warn of increasing network attacks as companies face overwhelming risks
Vietnam's cybersecurity infrastructure is under serious threat, as over 659,000 cyberattacks have been reported this year, according to the National Cybersecurity Association's year-end report. The alarming statistic reveals significant vulnerabilities among Vietnamese businesses, with 46.15% of organizations experiencing some form of cyber incident.
Major enterprises such as VNDirect, PVOIL, and Vietnam Post have fallen victim to damaging ransomware attacks, which have highlighted the pressing need for enhanced cybersecurity measures across all sectors. The report, released by the National Cybersecurity Association's Technology Department, indicates the data is based on surveys conducted with 4,935 organizations throughout the country.
Following the dramatic rise of cyber incidents, organizations are now facing unprecedented challenges within the cyber domain. More than 74,000 network attack alerts have been documented, including 83 targeted Advanced Persistent Threat (APT) campaigns, as noted by the Ministry of Public Security's Cybersecurity and High-Tech Crime Prevention Department (A05).
Vu Ngoc Son, Head of the Technology Department at the National Cybersecurity Association, emphasized the urgent need for businesses to heighten awareness and invest substantially in advanced cybersecurity solutions. He asserts: “The current state of cyberattacks creates urgent requirements for enhancing awareness, investing in advanced cybersecurity solutions, and promoting close cooperation between government, businesses, and technology communities. Refining legal frameworks and ensuring timely information sharing are decisive factors to protect the national cyber environment and build strong foundations for development in the digital era.”
The threat of ransomware, noted as particularly dangerous, has alarmed many entities across the nation—14.59% of surveyed organizations reported having been targeted by such attacks within the past year. Ransomware attacks can be devastating, interrupting business operations and significantly tarnishing reputations.
Despite this growing threat, the numbers reveal concerning shortcomings: only 56.53% of entities have designated personnel tasked with protecting personal data, and 43.47% of businesses either lack dedicated staff or simply assign dual roles. Notably, 19.45% of organizations admit to struggling to comply with personal data protection regulations.
Legal and procedural hurdles appear to exacerbate the situation, leading 58.82% of organizations to identify these as their major challenges, with 17.65% highlighting the lack of technical measures to safeguard data. The financial mechanisms proving inadequate are also noteworthy, leaving many enterprises vulnerable to privacy and data security threats.
Adding to existing issues, cybersecurity experts stress the importance of responsible AI adoption. AI technology presents unique challenges related to its governance and risk management. Dr. Elea Wurth, Vice President of AI Trustworthy Services at Deloitte Asia-Pacific, argues, “Effective AI governance is not just compliance but also involves maximizing the full potential of AI technologies.'”
Dr. Wurth’s observations mirror the broader concerns across Southeast Asia, where cybersecurity vulnerabilities have emerged as prevalent risks accompanying the use of AI, particularly as organizations generate and process expansive data sets.
Chris Lewin, head of AI and data capabilities at Deloitte Asia-Pacific, remarked on the rapid pace of AI deployment, highlighting how organizations currently face AI-related risks during the experimental and implementation processes. “Southeast Asia is becoming a hotspot for cyberattacks; concerns about security breaches can arise from AI solutions themselves or the vast data they manage,” he explained.
While threats loom large, there is some hope, with organizations integrating response and recovery plans for the AI deployment process. According to Do Danh Thanh, Deputy General Director of Technology Consulting Services, privacy invasion stands as one of the primary risks for organizations utilizing AI technology.
Despite these concerns, Thanh notes, with clear strategy and vision established early, organizations can minimize risks and manage them effectively.
Deloitte also released findings underscoring the urgent necessity for building trustworthy AI solutions, which are increasingly becoming imperative for organizations focusing on risk governance. Their report emphasizes the need for guided AI management principles, encompassing the spectrum from ideation to implementation.
The report provides concrete recommendations: prioritize AI governance to realize benefits, maintain continuous assessments of AI management across various facets including policy and procedure, and communicate transparent long-term AI strategies to prepare all sectors and departments for implementation.
With urgent calls for action ringing loud, it is clear the cybersecurity climate facing Vietnamese businesses requires immediate attention, alongside the pressing adaptation of AI solutions. Without increased awareness and enhanced cybersecurity frameworks, businesses risk unnecessary exposure to not just data breaches, but potentially irreversible operational impacts.
